Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Tally On Cloud Tally on Cloud: Ready for the Daily Backup Requirement
Keep your Tally books accessible from anywhere while supporting your Rule 46(8) obligations. With daily backups configured on servers physically located in India, Tally on Cloud helps you maintain the backup arrangement required for electronic books of account under the Income-tax Rules, 2026. Move your Tally to the cloud with confidence.
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.
 Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief
 ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know
 Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose
 CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27
 CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details
 Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window
 Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do
 Tax audit deadline September 30: Common mistakes taxpayers should avoid
 Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck
 Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money

Major tax incentives: July 6 Budget
June, 24th 2009

Aiming at boosting the tourism sector, the Union Tourism Ministry will seek major tax incentives for hotels and restaurants including exemption of service tax and excise duty in the Budget.   

The Ministry also wants rationalisation of import duty on adventure sports equipment to promote adventure tourism in the country.    

Tourism Minister Kumari Selja, who is scheduled to meet Finance Minister Pranab Mukherjee this week, has finalised the blueprint to be submitted to him for the Budget proposals for the growth of the sector, sources in the Ministry said.    

There is also a proposal for exemption of service tax for inbound tour operators on their foreign exchange earnings.    

The sources said Selja would submit the detailed proposals to the Finance Ministry seeking various tax incentives for the sector.    

The Ministry has also sought inclusion of hotels in list of infrastructure products like airports, railways and sea ports. If this measure is adopted, all new hotel projects will be able to avail the benefit of tax deductions of 100 per cent with respect to profits and gains for a period of 10 years.    

"This will help in channelising huge investments of about Rs 50,000 crore in the tourism sector in next 3-4 years and quickly bridge the shortfall in hotel accommodation. This will also help in lowering room tariffs in the country," said a sources.

Tourism Ministry has sought exemption of Central Excise duty on products produced and consumed within the premises of restaurants.    

Currently central excise is levied on hotels and restaurants which are in service industry and do not get the benefits available to small scale industries as the state governments do not recognise these activities as industrial activity.    

It is, therefore, all the more necessary that restaurants are exempted from the levy of central excise duty, sources said.    

On adventure sports, the ministry wants to exploit its tremendous potential which attracts both foreign and domestic tourists.    

As per the existing policy, only members of Adventure Tour Operators Association of India are allowed to import adventure equipment for their own needs after payment of custom duty. The cost of such limited import turns out to be very prohibitive.    

Vendors who can import these equipment in bulk are not allowed to do so.    

"There is also a shortage of modern adventure related equipment which results in a total turn off for the adventure tourists. Therefore it is proposed that the vendors be allowed to import these equipment which can be provided to the adventure tour operators at reasonable costs," sources said.

The foreign exchange earned by the inbound tour operators is also not exempted from the service tax.    

In order to provide relief to the tour operators in the current scenario of global economic slowdown, it is proposed that forex earned by inbound tour operators be considered as deemed export and full service tax exemption be provided to them.    

Ministry sources said the service tax exemption will provide relief as well as encouragement to these tour operators, who are finding it dificult to sustain business due to the falling inbound tourists.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2026 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting